The Supervisory Board of Investeringsselskabet Luxor A/S has today adopted the Interim Report as at 30 June 2017.
Q3 2016/17:
- Basic earnings amount to DKK 5.8 million (DKK 9.8 million).
- The Group’s results for the quarter before tax show a loss of DKK 0.9 million (DKK 23.3 million).
Interim period Q1-Q3 2016/17:
- Basic earnings for the period amount to DKK 18.9 million (DKK 24.3 million).
Basic earnings are negatively affected by:
- lower net income from investment properties primarily as a result of an increase in planned direct costs (DKK 3.7 million);
- lower net financial income primarily from bonds (DKK 1.4 million);
- lower capital gains on mortgage deeds (DKK 1.2 million).
Basic earnings are positively affected by:
- lower net losses on mortgage deeds (DKK 1.3 million).
- The Group’s results before tax for the period show a profit of DKK 22.5 million (DKK 19.3 million).
The results are positively affected by DKK 3.6 million, which primarily relates to positive fair value adjustments
on interest swaps etc not included in basic earnings.
- The net asset value per share in circulation is DKK 348.85 (DKK 349.34). The net asset value per share in circulation is significantly affected by the dividend distribution of DKK 25 million in January 2017, corresponding to DKK 25 per share.
Expected basic earnings 2016/17:
- For the financial year 2016/17, basic earnings are adjusted upwards by DKK 1.0 million, and thus at present, basic earnings of approx. DKK 25.0 million are expected compared with DKK 24.0 million in the Announcement of 29 May 2017. Fair value adjustments and losses and gains realised on bonds, foreign currencies and interest swaps, etc are not included in basic earnings and will from the beginning of the financial year until 21 August 2017 affect results for the year before tax positively by DKK 5.6 million. The amount is distributed with DKK 3.6 million in Q1-Q3 of the financial year and DKK 2.0 million in the period 1 July to 21 August 2017.
Jannik Rolf Larsen, CEO
